Jupiter Home Sales Update: June 2024 (Buyers vs Sellers)

Welome to the June 2024 Jupiter Real Estate Market report.  Data presented here will be for single family home buyers interested in moving to Jupiter, those selling a home in Jupiter, those interested in Jupiter Real Estate, or anyone looking for a Jupiter Realtor.

All data will come from the multiple listing service (MLS) and cover the period of May 1 2024 through May 31 of 2024.

Let’s drive right in here with Median Sold Price of single family homes in Jupiter Florida:

$975,000, down 2% month over month. Still on the high side of the chart. Let’s not linger here as median sales numbers can get pushed around too easily on a smaller sample size like this. I would just use this as kind of a yard stick not something to put a ton of stock into.

Total number of homes sold in Jupiter Florida:

Total number of homes sold is down month over month to 77 sales. Down from 109 sales last May.  The market is slower this year, I don’t need data to tell you that.  Now whether that’s due to rising home owners insurance costs, higher interest rates, or any other factor, those are property and Buyer specific.

List to sales price:

The list to sales price in Jupiter real estate is increasing.  Now this is something to note.  See how this is sloping up here.  The higher this gets, the less negotiation that is taking place.  This chart is looking more bullish for Sellers and can indicate some firming up in pricing. Climbing up here over 95%, let’s see which way this goes.

Days on market:

The days of market are going to be the number of days a home is actively listed before going to pending sale.  This is not how long it takes to close, just to go from active to pending.  This is an incredibly important metric to watch.  Buyers want longer days as it means they’re not pressured to make a quick decision, Sellers want shorter days.  So whose winning here at 44 days on market? Year over year we’re down from 55 days to 44 days.  However, we’ve been moving up a bit month over month. Interesting to watch that’s for sure.

Median price per square foot:

Median price per square foot of Jupiter Florida home sales, taking a little dip from last month but still on the high side of the chart.  I’ll keep saying this, this is logical.  Why? Because the good stuff is selling.  Buyers want Sellers to have done the renovations before the house hits the market, they don’t want to do the renovations themselves!  This is a shift from the make it your own thing a few years back.

Total dollar volume of Jupiter Home Sales:

Last month I pointed out that a few high dollar sales really pulled the total dollar volume upwards.  If you remember there was an excess $50 million.  That $50 million did not reappear this month.  So while the chart looks down, it’s actually flat outside of those few large sales.  Still a monster climb from the $57 million in December up to the $109 million we’re at now.

Months of inventory

Months of housing inventory in Jupiter looks to be favoring Buyers a bit! Year over year supply is up over 20%, meaning Buyers now have 20% more choices vs this time last year when home shopping.  Less inventory is good for Sellers and bad for Buyers.  This is incredibly important to keep an eye on!